ALKEM LABORATORIES SHARES SLIP AFTER CFO RESIGNS

Shares of Alkem Laboratories came under pressure in afternoon trade on Thursday after the pharmaceutical company announced the resignation of its Chief Financial Officer and Key Managerial Personnel, Nitin Agrawal. In an exchange filing dated September 24, the company said Agrawal had submitted his resignation on July 30, 2026, to pursue new professional opportunities. He will step down as CFO and cease to be a Senior Management Personnel of Alkem Laboratories with effect from September 30, 2026. In his resignation letter, Agrawal described his tenure as CFO of Alkem Laboratories as a "great honour" and said he would look back on his time with the company with gratitude. Agrawal highlighted several strategic initiatives he was involved in during his tenure, including building the company’s MedTech business from the ground up, the acquisition of Adroit, the creation of Alkem Wellness, the formation of a joint venture in Saudi Arabia and the acquisition of Bombay Ortho. He also said he had supported the monetisation of idle assets, including the Indore SEZ plant, improved returns from treasury income and helped implement the new UCPMP marketing guidelines in the domestic market. More recently, he was involved in leading the acquisition of Oculotech. Explaining his decision to step down, Agrawal said the move had not been easy but that he had chosen to pursue professional opportunities that were more closely aligned with his long-term professional and personal growth.